South Korea's Kim Yang Group, renowned for its cylindrical battery production, is expanding its investments to include companies with lithium projects in Mongolia and Congo, where lithium serves as the primary raw material for batteries. Their plan involves establishing processing plants for lithium production. In Mongolia, the lithium project centers around the Elstei deposit operated by Mon Laa LLC. In addition to tungsten export and processing, the project aims to conduct lithium exploration and mining, ultimately producing final products of lithium.
Preparations for exploration are complete, and a feasibility study is underway. Pending the acquisition of necessary permits, exploration, test production, and readiness for lithium mining are targeted for completion by the end of 2024. Despite encountering some challenges in investing in the Mongolian lithium project, Kim Yang Group successfully navigated these obstacles, leading to a rise in their stock value. The company is listed on the Korea Stock Exchange.
Mining Insight Magazine, March 2024 №3 (028)
